Jefferies & Co. Inc. said Monday that it has hired a team of 17 rates traders and sales representatives in London and Asia as part of a strategy to build a global rates trading business.

The unit of Jefferies Group Inc. said it hired most of its new team from Dresdner Bank AG, which is now part of Commerzbank AG, including Domenico Crapanzano, previously head of flow rates trading at the German bank, who was appointed head of European rates, sales and trading.

Jefferies said the business will involve dealing for customers in European government, agency, supranational and covered bond markets, as well as interest rate swaps, inflation products and securities repurchase agreements.

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